Home Depot (NYSE:HD) had its target price reduced by research analysts at Stifel Nicolaus from $230.00 to $225.00 in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the home improvement retailer’s stock. Stifel Nicolaus’ target price points to a potential upside of 20.51% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Argus raised their target price on Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. BMO Capital Markets set a $176.00 target price on Home Depot and gave the stock a “buy” rating in a research note on Wednesday, November 15th. UBS Group restated a “buy” rating and issued a $186.00 target price (up previously from $175.00) on shares of Home Depot in a research note on Wednesday, November 15th. Robert W. Baird set a $185.00 target price on Home Depot and gave the stock a “buy” rating in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Oppenheimer set a $178.00 target price on Home Depot and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $191.19.
Home Depot (NYSE HD) opened at $186.71 on Wednesday. Home Depot has a 12 month low of $143.25 and a 12 month high of $207.60. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. The company has a market capitalization of $218,334.03, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.08.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. During the same quarter last year, the company earned $1.44 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. equities analysts expect that Home Depot will post 7.38 earnings per share for the current year.
Home Depot declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ford Financial Group Inc. purchased a new position in Home Depot in the 4th quarter worth approximately $108,000. Earnest Partners LLC purchased a new position in Home Depot in the 4th quarter worth approximately $108,000. Jacobi Capital Management LLC increased its stake in Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new position in Home Depot in the 4th quarter worth approximately $112,000. Finally, Denali Advisors LLC purchased a new position in Home Depot in the 4th quarter worth approximately $133,000. 70.36% of the stock is currently owned by institutional investors.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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